LifeYield Introduces the Taxficient Score and Integrates with Riskalyze

By LifeYield | February 7, 2018 | Taxficient Score

BOSTON – February 7, 2018 

The New Industry Standard for Tax-Efficient Household Portfolio Management Launches at the T3 Advisor Conference with Riskalyze as its First Integration Partner.

Consumers have long understood the impact their personal credit scores have on their financial lives. Now, for the first time, financial advisors will have the ability to offer their clients a similar scoring mechanism to help them understand the tax efficiency of their entire investment portfolio through LifeYield’s Taxficient Score®.

An industry first, the Taxficient Score was developed by LifeYield, a software company that enables financial advisors and their clients to make and keep more money. The Taxficient Score will also be available through an integration with Riskalyze to further enhance the ability to measure risk and empower advisors to provide added value to their clients. The Taxficient Score will be showcased at LifeYield’s booth, #102 at the 2018 T3 Advisor Conference taking place at Marriott Harbor Beach Resort & Spa, in Fort Lauderdale, Florida.

The Taxficient Score is based on a scale of 0-100. A score of 100 indicates the household portfolio is optimally organized to minimize taxes. A lower score allows financial advisors to make portfolio adjustments that help clients minimize tax exposure. Most importantly, with LifeYield technology, financial advisors can look at all of an investor’s accounts in one place and suggest a coordinated household tax management approach.

“By age 50, most investors have five or six different accounts managed by multiple financial advisors. With little to zero coordination between accounts, financial advisors could not analyze tax efficiency across all their clients’ holdings. In addition, they lacked an easy way to communicate the value tax optimization and asset location provides. LifeYield’s platform gives financial advisors a simple score, and the ability to devise an asset accumulation and spending plan to increase their clients’ after-tax returns and income,” said Mark Hoffman, Chairman and CEO of LifeYield.

Investors can access their Taxficient Score through their financial advisor to manage multiple account types —such as 401(k), brokerage, Roth IRA and IRA rollover accounts—in a tax-efficient way.

“LifeYield and Riskalyze both have a vision to quantify the subjectiveness in an industry that feels broken to investors and their advisors,” said Aaron Klein, CEO at Riskalyze. “We can’t wait to see how advisors use the Risk Number® and the Taxficient Score® in tandem to empower fearless investing with their clients.”

Hoffman concluded, “The partnership with Riskalyze validates the need among advisors to have access to tools and technology to provide digitally enhanced advice. The Taxficient score will help advisors create richer proposals and ultimately, a workable plan for clients’ to make and keep more money through tax optimization.”

 

About Riskalyze
Riskalyze is the company that invented the Risk Number®, which powers the world's first Risk Alignment Platform, empowers advisors to execute the digital advice business model with Autopilot, and enables compliance teams to spot issues, develop real-time visibility and navigate changing fiduciary rules with Compliance Cloud. Advisors, broker-dealers, RIAs, asset managers, custodians and clearing firms today use Riskalyze to align the world's investments with each investor's Risk Number. To learn more, visit www.riskalyze.com.
About LifeYield
LifeYield (www.lifeyield.com), creators of the Taxficient Score®, is the industry innovator and leader in facilitating tax-smart, risk-smart household portfolio management. LifeYield's Advantage Suite® enables financial advisors to provide a comprehensive, tax-aware view of a client's entire investment and insurance portfolio, including easy-to-use tools to engage clients so they make and keep more money, and achieve their financial goals.
Based in Boston and founded by finance and technology industry leaders, LifeYield believes that by leveraging digitally enhanced advice advisors can improve investor outcomes and enhance the value and experience of support goals-based wealth management strategies.
For more information, please visit www.lifeyield.com.